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| Greece crisis: No vote would mean euro exit, leaders warn | Greece crisis: No vote would mean euro exit, leaders warn |
| (35 minutes later) | |
| EU leaders have warned Greeks that rejecting creditors' proposals in a snap referendum called for Sunday would mean leaving the euro. | EU leaders have warned Greeks that rejecting creditors' proposals in a snap referendum called for Sunday would mean leaving the euro. |
| German Vice Chancellor Sigmar Gabriel said the vote would be "yes or no to the eurozone". | German Vice Chancellor Sigmar Gabriel said the vote would be "yes or no to the eurozone". |
| Greek Prime Minister Alexis Tsipras has urged a no vote but insists he wants Greece to stay in the euro. | Greek Prime Minister Alexis Tsipras has urged a no vote but insists he wants Greece to stay in the euro. |
| Talks between Greece and its creditors broke down last week, leading to Greek banks having to shut this week. | Talks between Greece and its creditors broke down last week, leading to Greek banks having to shut this week. |
| Global stock markets fell sharply on Monday. | Global stock markets fell sharply on Monday. |
| As well as Mr Gabriel, the leaders of the eurozone's other two largest economies said Greek voters would effectively be deciding next Sunday whether or not they wanted to stay in the eurozone. | As well as Mr Gabriel, the leaders of the eurozone's other two largest economies said Greek voters would effectively be deciding next Sunday whether or not they wanted to stay in the eurozone. |
| Italian Prime Minister Matteo Renzi said the choice would be between the euro and the drachma, while French President Francois Hollande said "what's at stake is... knowing whether the Greeks want to stay within the eurozone". | Italian Prime Minister Matteo Renzi said the choice would be between the euro and the drachma, while French President Francois Hollande said "what's at stake is... knowing whether the Greeks want to stay within the eurozone". |
| Speaking to Greek television on Monday evening, Mr Tsipras urged as many Greeks to vote "no" as possible on Sunday to give his government a stronger position to restart negotiations. | Speaking to Greek television on Monday evening, Mr Tsipras urged as many Greeks to vote "no" as possible on Sunday to give his government a stronger position to restart negotiations. |
| He said his government had a mandate "to be within the European framework but with more justice". | He said his government had a mandate "to be within the European framework but with more justice". |
| "They will not kick us out of the eurozone because the cost is immense," he said. | "They will not kick us out of the eurozone because the cost is immense," he said. |
| Mr Tsipras hinted strongly that he would resign if the result of the referendum was a "yes" vote | Mr Tsipras hinted strongly that he would resign if the result of the referendum was a "yes" vote |
| "If the Greek people want to proceed with austerity plans in perpetuity, which will leave us unable to lift our head... we will respect it, but we will not be the ones to carry it out," he said. | "If the Greek people want to proceed with austerity plans in perpetuity, which will leave us unable to lift our head... we will respect it, but we will not be the ones to carry it out," he said. |
| The UK's Chancellor of the Exchequer, George Osborne, said a Greek exit would be "traumatic" and Britain should not underestimate the knock-on effects, even though it was outside the single currency. | The UK's Chancellor of the Exchequer, George Osborne, said a Greek exit would be "traumatic" and Britain should not underestimate the knock-on effects, even though it was outside the single currency. |
| He said UK retirees who live in Greece would continue to receive their pensions, but advised British holidaymakers to take more euros than usual. | He said UK retirees who live in Greece would continue to receive their pensions, but advised British holidaymakers to take more euros than usual. |
| Days of turmoil | Days of turmoil |
| Is Grexit nearer? | Is Grexit nearer? |
| European press sees Greece on verge of exit | European press sees Greece on verge of exit |
| Greek press warns of 'uncharted waters' | Greek press warns of 'uncharted waters' |
| Existential threat to euro from Greek exit | Existential threat to euro from Greek exit |
| Earlier, European Commission President Jean-Claude Juncker said he felt "betrayed" by the "egotism" shown by Greece in the failed talks on giving heavily indebted Greece the last payment of its international bailout. | Earlier, European Commission President Jean-Claude Juncker said he felt "betrayed" by the "egotism" shown by Greece in the failed talks on giving heavily indebted Greece the last payment of its international bailout. |
| He said Greek proposals were "delayed" or "deliberately altered" but added the door was still open to talks. | He said Greek proposals were "delayed" or "deliberately altered" but added the door was still open to talks. |
| Despite the public war of words, a Greek official said Mr Tsipras had spoken to Mr Juncker on Friday and asked him to extend Greece's bailout until the referendum. | Despite the public war of words, a Greek official said Mr Tsipras had spoken to Mr Juncker on Friday and asked him to extend Greece's bailout until the referendum. |
| A critical deadline looms on Tuesday, when Greece is due to pay back €1.6bn to the International Monetary Fund - the same day its current bailout expires. | A critical deadline looms on Tuesday, when Greece is due to pay back €1.6bn to the International Monetary Fund - the same day its current bailout expires. |
| Mr Juncker said that he still believed a Greek exit from the euro was not an option and insisted that the creditors' latest proposal meant more social fairness. | Mr Juncker said that he still believed a Greek exit from the euro was not an option and insisted that the creditors' latest proposal meant more social fairness. |
| Referendum question | Referendum question |
| The question which will be put to voters on Sunday will not be as simple as whether they want to stay in the euro or not - instead it asks Greeks to approve or reject the specific terms laid out by Greece's creditors: | The question which will be put to voters on Sunday will not be as simple as whether they want to stay in the euro or not - instead it asks Greeks to approve or reject the specific terms laid out by Greece's creditors: |
| "Should the agreement plan submitted by the European Commission, European Central Bank and the International Monetary Fund to the June 25 eurogroup and consisting of two parts, which form their single proposal, be accepted? The first document is titled 'Reforms for the completion of the Current Program and Beyond' and the second 'Preliminary Debt Sustainability Analysis'. | "Should the agreement plan submitted by the European Commission, European Central Bank and the International Monetary Fund to the June 25 eurogroup and consisting of two parts, which form their single proposal, be accepted? The first document is titled 'Reforms for the completion of the Current Program and Beyond' and the second 'Preliminary Debt Sustainability Analysis'. |
| "Not approved/NO | "Not approved/NO |
| "Approved/YES" | "Approved/YES" |
| Trying to crack the puzzle of the Greek referendum question | Trying to crack the puzzle of the Greek referendum question |
| Greek debt jargon explained | Greek debt jargon explained |
| Greece crisis - live coverage | Greece crisis - live coverage |
| On Saturday, the European Central Bank (ECB) decided not to extend emergency finance to the Greek banks after talks broke down. | On Saturday, the European Central Bank (ECB) decided not to extend emergency finance to the Greek banks after talks broke down. |
| The current ceiling for the ECB's emergency funding - Emergency Liquidity Assistance (ELA) - is €89bn (£63bn). It is thought that virtually all that money has been disbursed. | The current ceiling for the ECB's emergency funding - Emergency Liquidity Assistance (ELA) - is €89bn (£63bn). It is thought that virtually all that money has been disbursed. |
| Following the ECB announcement, Greece said its banks would remain shut until 6 July. | Following the ECB announcement, Greece said its banks would remain shut until 6 July. |
| Public transport will be free in the Athens area for a week while the banks are closed, the government says. | Public transport will be free in the Athens area for a week while the banks are closed, the government says. |
| On Monday evening the ratings agency Fitch said it had downgraded its rating of four Greek banks, National Bank of Greece, Piraeus Bank, Eurobank Ergasias and Alpha Bank, to "restricted default". | |
| The agency said the downgrade "reflects Fitch's view that these banks have failed and would have defaulted had capital controls not been imposed, given the high rates of ongoing deposit withdrawal and the ECB's decision". | |
| The euro lost 2% of its value against the US dollar in market trading on Monday before recovering some ground. Government borrowing costs in Italy and Spain, two of the eurozone's weaker economies, have also risen. | The euro lost 2% of its value against the US dollar in market trading on Monday before recovering some ground. Government borrowing costs in Italy and Spain, two of the eurozone's weaker economies, have also risen. |
| The Athens stock exchange is closed as part of the emergency measures. | The Athens stock exchange is closed as part of the emergency measures. |
| 'Resorting to barter system' | 'Resorting to barter system' |
| Athens resident Ilia Iatrou says the situation is "unbearable". | Athens resident Ilia Iatrou says the situation is "unbearable". |
| "My mother-in-law queued up for over an hour at the cash point just to be able to withdraw a small amount of money. | "My mother-in-law queued up for over an hour at the cash point just to be able to withdraw a small amount of money. |
| "I haven't tried to go to the cash machine myself, as we don't have much money left. | "I haven't tried to go to the cash machine myself, as we don't have much money left. |
| "My neighbours and I have now resorted to a sort of barter system among ourselves because we have no money left. | "My neighbours and I have now resorted to a sort of barter system among ourselves because we have no money left. |
| "We can't take any more of this, so we have to keep saying no to the EU masters. | "We can't take any more of this, so we have to keep saying no to the EU masters. |
| "The EU can't afford to let us fail so we should continue to say no and they will blink and give us a better deal." | "The EU can't afford to let us fail so we should continue to say no and they will blink and give us a better deal." |
| Voices from Greece: 'This can't go on' | Voices from Greece: 'This can't go on' |